maybe you're not familiar with just how stupidly written most code is.
you're right that there are efficiency limits, but not once in my career have I ever seen anyone even attempt to write their code so that it is efficient to run, outside of gaming.
Anything can be improved. Or almost anything. The question is by how much, 5%, 10% or 300%. In this case, I am not really I understand the problem oxide is set to solve so I can't really comment precisely but to me it sounds that if we generally say that data center equipment is suffering from power budget and cooling issues then I don't see this as a problem that software can solve.